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Currency Withdrawal

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Contributor

Currency Withdrawal

Hi, I have some USD in my PayPal (Europe) account. I've previouly transferred EUR to a Portuguese account, but now wish to transfer the USD to a UK-based USD account, unfortunately it keeps forcing me to convert to EUR prior to transferring. Is there a way to deactivate this?

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Esteemed Advisor

Re: Currency Withdrawal

@LastExile22 

 

No. PayPal will always convert to local currency on the withdraw. It will cause double currency conversion with a foreign currency local bank account so there is no point in trying it. The only way is if you linked a US bank account opened on US soil.

 

If you want to receive USD and spend it, keep it in PayPal USD currency balance and select USD currency during checkout to use the USD funds from your PayPal account.


Kudos & Solved are greatly appreciated. 🙂
2 REPLIES 2
Esteemed Advisor

Re: Currency Withdrawal

@LastExile22 

 

No. PayPal will always convert to local currency on the withdraw. It will cause double currency conversion with a foreign currency local bank account so there is no point in trying it. The only way is if you linked a US bank account opened on US soil.

 

If you want to receive USD and spend it, keep it in PayPal USD currency balance and select USD currency during checkout to use the USD funds from your PayPal account.


Kudos & Solved are greatly appreciated. 🙂
Contributor

Re: Currency Withdrawal

I actually have a US bank account although I'm not a US citizen. However, I can't find the option to add it since European bank accounts are IBAN and that's the format preset in the add bank account form on the PayPal website. I'm guessing this is intentional and I can't send USD to my US bank account with a European PayPal account?